紫金矿业斥巨资收购西方矿商资产

Zijin Mining is to buy assets and pursue long-term ventures with two western miners, underscoring China’s importance as a strategic partner for some of the industry’s leading companies.

紫金矿业(Zijin Mining)将向两家西方矿商收购资产，并与它们开展长期合资经营，突显中国作为战略合作伙伴对一些领先矿业企业的重要性。

Zijin, one of China’s largest miners, is paying $298m for a joint venture with Barrick Gold whereby each company will own 47.5 per cent of Porgera, a gold mine in Papua New Guinea.

紫金矿业是中国最大的矿商之一。该公司将斥资2.98亿美元与巴里克黄金(Barrick Gold)开展一个合资项目：两家公司将分别拥有巴布亚新几内亚波尔盖拉(Porgera)金矿47.5%的股份。

The wider significance is the companies’ partnership to collaborate on further investments. Barrick, the world’s largest gold miner by annual output, has been expected to try to find a Chinese partner since John Thornton, who is well connected in Beijing, took over as chairman last year.

更广泛的意义在于，两家公司结成合作伙伴关系后，将在更多投资项目上合作。按年产量计算，巴里克是全球最大黄金矿业公司。自约翰•桑顿(John Thornton)去年接任董事长以来，各方一直预期该公司将试图寻找中国合作伙伴，因为桑顿在中国有深广的人脉。

“A 21st-century mining company with global reach and the intention to become an industry leader must, by definition, have a distinctive relationship with China,” said Mr Thornton.

“一家21世纪的矿业公司，业务覆盖全球，并有志成为行业领导者，当然必须与中国建立一种特别的关系，”桑顿表示。

“China has become both the largest producer and consumer of gold, and a major source of capital and expertise for the mines of the future.”

“中国已成为黄金的最大的生产国和消费国，以及开发未来金矿所需的资本和专业知识的一大来源。”

Barrick is one of a number of mining companies saying they are likely to turn to partnerships to fund the escalating cost — and bear the risk — of projects. The Canadian company was badly burnt by a massive cost overrun at its Pascua-Lama project in the Andes, where work is suspended.

包括巴里克在内，多家矿业公司都表示，他们很可能求助于合作伙伴关系，以承受不断上涨的项目成本，并分担风险。总部位于加拿大的巴里克，近期受到安第斯山脉Pascua-Lama项目大幅超支的沉重打击；目前该项目已经停工。

Zijin is also extending its partnership with Ivanhoe Mines, the vehicle of the wealthy mining entrepreneur Robert Friedland. Having taken a stake of 9.9 per cent in Ivanhoe this year, Zijin is to acquire 49.5 per cent of the Canadian company’s Kamoa copper project in the Democratic Republic of Congo for $412m, with a potential option for majority ownership.

紫金矿业还扩大了与艾芬豪矿业(Ivanhoe Mines)的合作伙伴关系。艾芬豪是矿业企业家罗伯特•弗里德兰(Robert Friedland)旗下企业。继今年早些时候购得艾芬豪9.9%股份之后，紫金将斥资4.12亿美元，收购这家加拿大公司在刚果民主共和国卡莫阿(Kamoa)铜矿项目49.5%的股份，外加获得多数股权的潜在选择权。

Kamoa is one of the biggest copper projects in development and will cost about $1.4bn to reach first-phase output of 100,000 tonnes of concentrate annually, with a long-term target of 300,000 tonnes. Ivanhoe has spent $337m so far at Kamoa. It is Mr Friedland’s biggest copper project since selling the Oyu Tolgoi mine in Mongolia to Rio Tinto.

卡莫阿是目前在开发的最大铜矿项目之一，将投资约14亿美元，一期目标是实现10万吨铜精矿年产量，长期年产量目标是30万吨。艾芬豪迄今已在卡莫阿投入3.37亿美元。自蒙古奥尤陶勒盖(Oyu Tolgoi)铜金矿被出售给力拓(Rio Tinto)以后，这是弗里德兰最大的铜矿项目。

Jeff Couch, head of metals and mining Emea at BMO Capital Markets, an adviser to Ivanhoe, said: “Zijin are astute, and this is a world-class copper project. Robert Friedland and Ivanhoe have a longstanding relationship with China. For ‘world class’ assets there remains a strong demand.”

艾芬豪的顾问、加拿大蒙特利尔银行资本市场(BMO Capital Markets)的欧洲、中东和非洲金属及矿业负责人杰夫•科奇(Jeff Couch)表示：“紫金很精明，这是一个世界级的铜矿项目。罗伯特•弗里德兰和艾芬豪与中国有着长期的合作关系。对‘世界级’资产的需求仍然强劲。”

Credit Suisse advised Barrick on the sale of Porgera. It is the Canadian miner’s second announced asset sale in two days, after it sold the Cowal gold mine in Australia for $550m to Australia’s Evolution Mining.

瑞信(Credit Suisse)在出售波尔盖拉金矿股份事宜上向巴里克提供咨询。这是这家加拿大矿商连续第二天宣布资产出售，此前它将澳大利亚的科瓦尔(Cowal)金矿以5.5亿美元出售给澳大利亚Evolution Mining公司。

Barrick also plans to sell a share of its Zaldívar copper mine in Chile to help meet a target of cutting its $10bn net debt by about 30 per cent this year.

巴里克还计划出售其在智利的萨尔迪瓦(Zaldívar)铜矿的部分股份，以帮助实现在今年内将100亿美元净债务削减约30%的目标。